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Jul 9, 2011
07/11
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mac, were both created by the u.s. government. the two exist with the same purpose -- to increase homeownership by increasing the number of mortgages issued to u.s. homeowners. this is how they work. fannie and freddie buy mortgages from banks, and sell them to investors as securities. that frees up capital for banks to issue more mortgages, naturally, long-term fixed interest rate mortgages. but critics have fingered them with playing a major role in spurring the great recession. they say fannie and freddie sold shoddy mortgages to wall street. when those mortgages defaulted, so did the stock market, spurring the crisis. so says former policy. if the u.s. government had not chosen this policy path, the great financial crisis of would never have occurred." more fannie and freddie, we're talking about two institutions, and the average american can't walk in there and take a mortgage. who is -- who do they deal with? >> they deal with other financial in institutions, who in turn put their mortgages with fannie and freddi
mac, were both created by the u.s. government. the two exist with the same purpose -- to increase homeownership by increasing the number of mortgages issued to u.s. homeowners. this is how they work. fannie and freddie buy mortgages from banks, and sell them to investors as securities. that frees up capital for banks to issue more mortgages, naturally, long-term fixed interest rate mortgages. but critics have fingered them with playing a major role in spurring the great recession. they say...
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Jul 23, 2011
07/11
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fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven months into the session with republicans in the majority. arling is a member of the majority. said. what mr. bauchus we would like a comprehensive bill. can we get a comprehensive bill? i do not think so. republicans in power in the house are much less certain. where are we? i will say i am somewhat embarrassed by this failure of memory, once he became a member of the majority. the gentleman from alabama blamed the obama administration. i feel like humphrey bogart, when it comes to fannie mae and freddie mac, republicans ca
fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven...
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Jul 14, 2011
07/11
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he is author of a book about fannie mae and freddy imagine and -- freddie mac and why the two shu never have gotten married. republican michel bachmann has surged above president obama. the key to the success progrowth agenda, adherence to the founding fathers principles and something special. >> analysts say her uncompromising views on homosexuality are one of big reasons she's gaining traction in iowa. >> jon: what? why would iowans be so concerned about what happens three inches below the corn belt? [laughter] since the iowa supreme court legalized same-sex marriage in 2009 they've noticed real changes in the state's cash crop! [laughter] yes, their worst fears corn destroyed by a (bleep) playing. [laughter] a -- (bleep) plague. movie about iowa field of -- if you build it they will -- you know. [laughter] it's no surprising the message is resonating to conservatives there. unless you think she's pandering rest april sured she's be on this message for years. >> if you are involved in the gay and lesbian lifestyle it's bondage. it's personal bondage, personal despair and enslavement.
he is author of a book about fannie mae and freddy imagine and -- freddie mac and why the two shu never have gotten married. republican michel bachmann has surged above president obama. the key to the success progrowth agenda, adherence to the founding fathers principles and something special. >> analysts say her uncompromising views on homosexuality are one of big reasons she's gaining traction in iowa. >> jon: what? why would iowans be so concerned about what happens three inches...
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Jul 24, 2011
07/11
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. >> fannie mae and freddie mac mortgage giants will stay in existence but congress will reform them. bye-bye!
. >> fannie mae and freddie mac mortgage giants will stay in existence but congress will reform them. bye-bye!
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Jul 22, 2011
07/11
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CSPAN2
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i want to talk about fannie mae and freddie mac. i am impressed with the on-again off-again nature of this with my colleagues in the house. my republican colleagues talked tough about fannie mae and freddie mac when they were in the minority but when they are in the majority something happens. they are affected by estranged plurality with responsibility. i say that because last year when we dealt with this in conference the republicans in the house offered the bill -- total abolition of fannie mae and freddie mac with no attention to its success. they said it wasn't germane. almost seven months into this session with republicans in the majority, a member of the majority and subcommittee chairmen haven't offered -- we had a discussion of smaller bills in the wall street journal. said. what mr. bauchus we would like a comprehensive bill. can we get a comprehensive bill? i do not think so. republicans in power in the house are much less certain. where are we? i will say i am somewhat embarrassed by this failure of memory, once he becam
i want to talk about fannie mae and freddie mac. i am impressed with the on-again off-again nature of this with my colleagues in the house. my republican colleagues talked tough about fannie mae and freddie mac when they were in the minority but when they are in the majority something happens. they are affected by estranged plurality with responsibility. i say that because last year when we dealt with this in conference the republicans in the house offered the bill -- total abolition of fannie...
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Jul 18, 2011
07/11
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on the one hand you have fannie mae, freddie mac we call it godzilla. you have the banks we call king congress. we want the reader to envision they are looking at downtown tokyo look the at godzilla and king kong battling it out. you have to deal with both and the large institutions. >> jon: when godzilla and king kong are attacked in tokyo is there a regulatory alive that could zap them with a gamma ray? or how do you battle that type of -- it strikes me as, if we're backing them and backing the private mortgage insurers who are we not becoming and how could we as the american public have won in the first place. >> once you made them king÷ú kog and godzilla there's nothing you can do. you have to prevent them from becoming that. >> jon: do you have faith there can be an aggressive streamline, not cumbersome bureaucracy, regulatory regime that could control these things or is it politcally not feasible? >> i don't know about the politics. in the book we have a three-stage plan to get from where we are now to where we want to be. first we stop messing
on the one hand you have fannie mae, freddie mac we call it godzilla. you have the banks we call king congress. we want the reader to envision they are looking at downtown tokyo look the at godzilla and king kong battling it out. you have to deal with both and the large institutions. >> jon: when godzilla and king kong are attacked in tokyo is there a regulatory alive that could zap them with a gamma ray? or how do you battle that type of -- it strikes me as, if we're backing them and...
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Jul 22, 2011
07/11
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fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven months into the session with republicans in the majority. arling is a member of the majority. said. what mr. bauchus we would like a comprehensive bill. can we get a comprehensive bill? i do not think so. republicans in power in the house are much less certain. where are we? i will say i am somewhat embarrassed by this failure of memory, once he became a member of the majority. the gentleman from alabama blamed the obama administration. i feel like humphrey bogart, when it comes to fannie mae and freddie mac, republicans ca
fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven...
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Jul 22, 2011
07/11
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fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven months into the session with republicans in the majority. arling is a member of the majority. said. what mr. bauchus we would like a comprehensive bill. can we get a comprehensive bill? i do not think so. republicans in power in the house are much less certain. where are we? i will say i am somewhat embarrassed by this failure of memory, once he became a member of the majority. the gentleman from alabama blamed the obama administration. i feel like humphrey bogart, when it comes to fannie mae and freddie mac, republicans ca
fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven...
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Jul 27, 2011
07/11
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WUSA
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mac and it's important for the mortgage rates we pay, they'll downgrade the debt of various banks, they'll downgrade the debt of state government and other municipalities, so we'll all be paying higher interest rates. i don't think rates would rise overwhelmingly but they would rise. for example instead of paying 4.5% or fixed rate mortgage you might be paying 4.6%, 4.7%. >> with all of the dysfunction americans are seeing in washington right now, are we going to be downgraded no matter what happens at this stage of the game? >> i don't know for sure, but i think the credit rating agencies have said that we need to do two things, one is raise the debt ceiling limit by next week and the second is to make substantive progress towards getting back to fiscal state ability, cutting our future budget deficits significantly. i still think policymakers can get that done but need to get that done to avoid a downgrade. >> do you ultimately think a deal would be reached before the august 2 deadline? >> you know i do. i'm confident policymakers understand the gravity of this, that if we go down this r
mac and it's important for the mortgage rates we pay, they'll downgrade the debt of various banks, they'll downgrade the debt of state government and other municipalities, so we'll all be paying higher interest rates. i don't think rates would rise overwhelmingly but they would rise. for example instead of paying 4.5% or fixed rate mortgage you might be paying 4.6%, 4.7%. >> with all of the dysfunction americans are seeing in washington right now, are we going to be downgraded no matter...
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Jul 12, 2011
07/11
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the "wall street journal" reports ideas include having fannie mae and freddie mac relax rules for loans to investors. that would allow them to vacuum up homes stuck on the market. officials could sweeten incentives to reduce loan balances for folks who owe more money on their homes than they're worth. fannie and freddie could rent instead of selling the huge inventory of foreclosed homes which could take pressure off prices. >>> congress is considering a bill that would make it illegal around the nation to drive and talk on a hand-held phone. now, ford is stepping forward in support of the measure. it is first car maker to back the bill. ford happens to sell technology, a hands free voice- operated system that could make phone calls and change the music. >>> online dating not just for the youngsters anymore. our partners at "usa today" report folks 55 and up are the fastest growing group looking for love online. one out of every six people on the internet dating sites. the trend the result of more internet savvy, mature daters who want to better their chances of meeting people in their
the "wall street journal" reports ideas include having fannie mae and freddie mac relax rules for loans to investors. that would allow them to vacuum up homes stuck on the market. officials could sweeten incentives to reduce loan balances for folks who owe more money on their homes than they're worth. fannie and freddie could rent instead of selling the huge inventory of foreclosed homes which could take pressure off prices. >>> congress is considering a bill that would make...
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Jul 27, 2011
07/11
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fannie mae and freddie mac. >> start with freddie and fanny. these failed nationalized mortgage mon stros its would be put on an auction block and sold to the highest bidder. minimum bid, 50 cents. >> but without fannie and freddie, bachmann couldn't have bought her 5200 square foot house on a minnesota golf course. washington post huff reports balk maen and her husband signed a $417,000 mortgage in 2008. backed by either fannie mae or freddie mac and they have steadily attacked freddie and fannie ever since. >> there is an assurance that this would be the back stop for feddy and fanny. that's part of the problem. we want to see freddie and fanny put on the auction block, divide up and sold off. >> this is not the first time bachmann tried to have it both ways when it comes for government spending. bachmann calls for cutting medicaid but her husband's counseling clinic has over $160,000 in medicaid funds and other government money. while bachmann says she wants it farm has gotten $260,000 in federal subcy dies. bachmann claims to hate governmen
fannie mae and freddie mac. >> start with freddie and fanny. these failed nationalized mortgage mon stros its would be put on an auction block and sold to the highest bidder. minimum bid, 50 cents. >> but without fannie and freddie, bachmann couldn't have bought her 5200 square foot house on a minnesota golf course. washington post huff reports balk maen and her husband signed a $417,000 mortgage in 2008. backed by either fannie mae or freddie mac and they have steadily attacked...
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Jul 30, 2011
07/11
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did you know that as a member of congress regulating fannie mae and freddie mac he placed one of his gay lovers as a financial analyst at fred -- fannie mae? as a libertarian i have no objection whatsoever to his sexual preferences. i have a serious objection to corruption. we're talking about a deeply, deeply corrupt man his corruption's very nearly destroy the world. another villain is alan greenspan. what character is alan greenspan light? anybody remember dr. robert sadler? kind of a minor character, but a very key character, one of two college professors it was a mentor to young john glat. wind john glat was still a young man he left academia to found the state science institute said that he could do his experiments in physics from a theoretical physics three of the privy support of capitalists and people who pay tuition and things like that. and john glat disowned him, he damn time. now, at the climax when the world finally totally goes down the drain the climactic scene is when the government's having a big star braided his work in physics to create a weapon of mass destructio
did you know that as a member of congress regulating fannie mae and freddie mac he placed one of his gay lovers as a financial analyst at fred -- fannie mae? as a libertarian i have no objection whatsoever to his sexual preferences. i have a serious objection to corruption. we're talking about a deeply, deeply corrupt man his corruption's very nearly destroy the world. another villain is alan greenspan. what character is alan greenspan light? anybody remember dr. robert sadler? kind of a minor...
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Jul 3, 2011
07/11
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but it seems to me that my feeling is maybe that freddie mac is trying to raise its figures and look like it really is helping lots of people who need help by putting through mortgages, by refinancing mortgages like ours. and in the meantime, people like my contractor who really should be being helped by these programs aren't getting the help they need. >> well, i certainly would say that the treasury's program, the hamp program has been an unmitigated disaster from the very outset. it was just badly conceived, it really was almost the worst possible combination of kind of, um, people coming up with an idea of how to not help people is really how it ended up working. bank of america, you know, again, my e-mail box is filled with stories where they do, they lose the paperwork, they don't, you know, allow the modification. there just does not seem to be a real sense either in the private sector or the public sector to make, make a rational, intelligent decision about who should be helped and who should not be helped. and so i just think that the government has done a woeful job. and, a
but it seems to me that my feeling is maybe that freddie mac is trying to raise its figures and look like it really is helping lots of people who need help by putting through mortgages, by refinancing mortgages like ours. and in the meantime, people like my contractor who really should be being helped by these programs aren't getting the help they need. >> well, i certainly would say that the treasury's program, the hamp program has been an unmitigated disaster from the very outset. it...
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supporting loans backed by the government, fannie mae, freddy mac and fhan october, it will be reduced, leaving future home buyers ability to borrow only $625,000. researchers at george washington university school of business are suggesting the limits should be rolled back further. >> you'd need to have a jumbo loan. >> interest rate is higher but more difficult to qualify. because fewer lenders that are providing loans that have size. >> the concern is that reducing the limits, thousands of california home buyers will be shut out of homeownership unless they can come up with a higher down payment. >> people don't have it. incomes have dropped. experts say it could affect home values. >> we can see up and down the neighborhood. >> not everyone agrees, russell is a business owner. >> i don't think it's going to to have a huge affect. the area we're in prices are high enough. there aren't going to be that many thicks that can -- the bulk are already jumbo loan autos these limits have been help tofl counties. the sale of the average home for the first quarter of 2011 was $970,000. accord
supporting loans backed by the government, fannie mae, freddy mac and fhan october, it will be reduced, leaving future home buyers ability to borrow only $625,000. researchers at george washington university school of business are suggesting the limits should be rolled back further. >> you'd need to have a jumbo loan. >> interest rate is higher but more difficult to qualify. because fewer lenders that are providing loans that have size. >> the concern is that reducing the...
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Jul 31, 2011
07/11
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did you notice a member of congress, regulating fannie mae and freddie mac he placed one of his lovers as a financial analyst at fannie mae. as a libertarian, i have no objection whatever to his preferences. i have a serious objection to corruption. we are talking about it deeply, deeply corrupt man whose corruption very nearly destroyed the world. another villain from atlas shrugged, alive and well in our world is alan greenspan. no wet character is alan greenspan might? anybody remember dr. robert stadler? a very key character. he is one of two college professors to the young john galt. when galt was still a young man, statler left academia to fund the state science institute. so he could do his experimental physics, theoretical physics for you to grab supportive capitalists of people who pay tuition and things like that. john galt disowned them. he damned him. now at the climax the world totally goes down the drain, the claim that extremism in the government, have been expropriated dr. statler cirque and physics to create a weapon of mass destruction, the weapon almost accidentally
did you notice a member of congress, regulating fannie mae and freddie mac he placed one of his lovers as a financial analyst at fannie mae. as a libertarian, i have no objection whatever to his preferences. i have a serious objection to corruption. we are talking about it deeply, deeply corrupt man whose corruption very nearly destroyed the world. another villain from atlas shrugged, alive and well in our world is alan greenspan. no wet character is alan greenspan might? anybody remember dr....
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Jul 28, 2011
07/11
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just a few weeks before bachmann called for dismantling fannie mae and freddie mac, they signed for a $417,000 home loan to help finance their move to a golf course home. will her hypocrisy catch up? david jones is with mother jones, and also joined by michelle goldberg. this is one of the clear-cut cases where you get points from the public for saying you want to be independent of government, and it turns out you're very much dependent on government, you're borrowing on federally backed money. >> on the one hand i'm not sure that most people will blame anyone for taking advantage of a government program they oppose, right? i think -- >> calling for its destruction? >> i think the point is, in her case, the problem i think is that it's cumulative. it's the time and time again she, while kind of lambasting government, her entire career, her entire financial well-being seems to be based in many ways on suckling from the government teat. it's not that just she has loans backed by fannie and freddie, it's that she's also getting subsidies for her farm, her husband is getting medicare for
just a few weeks before bachmann called for dismantling fannie mae and freddie mac, they signed for a $417,000 home loan to help finance their move to a golf course home. will her hypocrisy catch up? david jones is with mother jones, and also joined by michelle goldberg. this is one of the clear-cut cases where you get points from the public for saying you want to be independent of government, and it turns out you're very much dependent on government, you're borrowing on federally backed money....
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Jul 11, 2011
07/11
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one year ago, the republicans know exactly what to do about betty mae and freddie mac. they offer the henerling bill. they were furious. that was over one year ago. the republicans know exactly what to do about any mae and freddie mac when they're in the, -- when there were in the majority. being in the majority has modeled their minds. one of the bills is up to 15 separate bills. the henserling bill has had no hearings. we have two others. the committee has been pretty effective. -- pretty ineffective. >> are you concerned that the 2012 election could make these bills less serious? i don't think they will win the house, the senate, and the presidency in 2012. i also believe they're more ready to do this because this is a case where they're not in the minority in the house. i don't think they are ready to pass a law that says the cftc cannot deal with speculation. toon't think they are ready abolish cftb. with fannie mae and freddie mac, they have the luxury of telling their ideological strongest supporters and abolishing fannie and freddie and letting it be toper marke
one year ago, the republicans know exactly what to do about betty mae and freddie mac. they offer the henerling bill. they were furious. that was over one year ago. the republicans know exactly what to do about any mae and freddie mac when they're in the, -- when there were in the majority. being in the majority has modeled their minds. one of the bills is up to 15 separate bills. the henserling bill has had no hearings. we have two others. the committee has been pretty effective. -- pretty...
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Jul 23, 2011
07/11
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they gave ratings to fannie mae and freddie mac. >> very good point. >> they warn us about the disaster coming, no much? look at the free market economist to get the rating. >> that is like me offering dietary advice. >> get your sense was what happened august 2nd. to hear the president tell us we default. but technically that is not true. >> no, you pay your bills with the cash flow and pick and choose. you don't default on the debt. you might have to default on the agencies of government. but you could pay your social security and you could pay the necessary things that have to be done, but there is a lot of burrcrats that are not all that necessary . so there is a lot of -- you can could do. facing up to the facts that you have to deal with it and end up spending money and august 2nd is a fictitious day. they are billions over the debt already. and so, i think that august 2nd debt is more related to the individuals who have trips planned in august and want to clean up the mess . for that reason, if they don't come up with a agreement. they will have a temporary agreement that the pre
they gave ratings to fannie mae and freddie mac. >> very good point. >> they warn us about the disaster coming, no much? look at the free market economist to get the rating. >> that is like me offering dietary advice. >> get your sense was what happened august 2nd. to hear the president tell us we default. but technically that is not true. >> no, you pay your bills with the cash flow and pick and choose. you don't default on the debt. you might have to default on...
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Jul 25, 2011
07/11
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. $1 trillion of the $2 trillion alone at fannie mae and freddie mac. how is it you can create a deficit by absorbing all of the housing debt into the government add freddie mac and fannie mae, fund all of these wars, no restructuring and continue to subsidize a banking system that's exporting capital by the trillion from our country and then solve that deficit problem by cutting medicare? that, i'm confused by that. >> el well, dylan, i'm too confused. not someone standing here saying the solution is cut medicare. the proposal harry reid will put in detail tonight will come to the senate floor is going to achieve some real progress in part by spending reductions in the wars in afghanistan and iraq. i think you're right in pointing out that it is both dramatic increased spending on conflict overseas and significant tax breaks that led to our record deficits. the gap between our revenue and our spending. we ought to be focused more on growing revenue by growing jobs, and to do that we may have to do some spending that restores america's competitiveness.
. $1 trillion of the $2 trillion alone at fannie mae and freddie mac. how is it you can create a deficit by absorbing all of the housing debt into the government add freddie mac and fannie mae, fund all of these wars, no restructuring and continue to subsidize a banking system that's exporting capital by the trillion from our country and then solve that deficit problem by cutting medicare? that, i'm confused by that. >> el well, dylan, i'm too confused. not someone standing here saying...
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Jul 2, 2011
07/11
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KQED
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this so-called government- sponsored enterprise, and its cousin, freddie mac, increases money for homeownership, buying home loans from banks and packaging them into securities to sell to investors everywhere. a new book, though-- "reckless endangerment"-- argues that, for the past two decades, fannie pursued profit for its own sake and bought riskier and riskier loans that pumped a housing bubble bound to burst. when it did, fannie and freddie failed; a federal bailout that has cost some $130 billion followed. we talked to co-authors gretchen morgenson, a pulitzer prize winning reporter, and finance analyst joshua rosner outside fannie's headquarters. so the main culprit of your story is fannie mae, right behind you there. why fannie mae? >> it was a primary mover, a first mover in the process to relaxed lending standards, to go downhill into the sort of sub- prime morass that really got us into trouble. and it was able to wrap itself in the american flag of homeownership and capitalize on its great and lucrative government subsidy. >> reporter: how does the government subsidy work? i mean, it
this so-called government- sponsored enterprise, and its cousin, freddie mac, increases money for homeownership, buying home loans from banks and packaging them into securities to sell to investors everywhere. a new book, though-- "reckless endangerment"-- argues that, for the past two decades, fannie pursued profit for its own sake and bought riskier and riskier loans that pumped a housing bubble bound to burst. when it did, fannie and freddie failed; a federal bailout that has cost...
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Jul 16, 2011
07/11
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mortgage giants fannie mae and freddie mac, all aaa-rated insurers, and federal home loan banks. s&p characterized its targets as "entities with a direct link to, or reliance on, the federal government." >> susie: when it comes to the raising the debt limit, president obama says house republicans have to compromise. he wants them to add tax increases to large spending cuts as part of a balanced package, but house republicans are holding firm and some are refusing to vote for any debt limit increase. darren gersh spoke with one of them, georgia representative tom graves. darren began by asking graves whether there was anything the president could do to win his support for a $2 trillion deficit reduction package. >> the $2 trillion package, talking 'savings over 10, 12, 15 years, but our decrisis is today's problem, so we need today's solutions. so they're talking about long-term cuts, that's not what interests me nor the conservatives in the house of representatives. we want me cuts today, we want that in the short-term solution, then the midterm solution is caps. bring ourselves
mortgage giants fannie mae and freddie mac, all aaa-rated insurers, and federal home loan banks. s&p characterized its targets as "entities with a direct link to, or reliance on, the federal government." >> susie: when it comes to the raising the debt limit, president obama says house republicans have to compromise. he wants them to add tax increases to large spending cuts as part of a balanced package, but house republicans are holding firm and some are refusing to vote for...
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Jul 3, 2011
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is because we are subsidizing fannie mae and freddie mac and telling people to buy houses with no down payment. he has also been somebody who has been a little different than some republicans in that he believes our foreign policy should be constitutional. we should not go to war simply on the word of a president but you should have congressional debate and congressional authorization for war. that is what the constitution says. many in republican party are coming in his direction on this. the debate over libya really shows the influence of ron paul in the republican party. >> libya is supposed to be on the senate floor next week. you said you'd like to filibuster would it ever is on the floor to bring up the debt. does that mean you would filibuster a move to bring the libyan resolution to the floor? >> i have been one of the most vocal in the senate for debating libya and bring it to the floor. i wanted to bring it to the floor when it was still within the realm of law. the president had evaded the war and showed utter disdain for the constitution and congress. it is not good to tell
is because we are subsidizing fannie mae and freddie mac and telling people to buy houses with no down payment. he has also been somebody who has been a little different than some republicans in that he believes our foreign policy should be constitutional. we should not go to war simply on the word of a president but you should have congressional debate and congressional authorization for war. that is what the constitution says. many in republican party are coming in his direction on this. the...
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Jul 28, 2011
07/11
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the swiss bank is accused of misleading fannie mae and freddie mac into buying mortgage debt that resulted in more than $900 million in losses. the lawsuit by the federal housing finance agency alleges that when u.b.s. sold more than $4.5 billion in residential mortgage-backed securities, the bank made misstatements as to the quality of the underwriting. the kind of u.s. savings bonds many of us give as gifts are being phased out. tonight's "money file" explains the changes and what you can expect. here's karen gibbs, founder of the gibbs perspective. >> do you buy savings bonds for your children, grandchildren, nieces or nephews? well, starting january 1, 2012, you'll have to do it online. the treasury department hopes the digital move will save as much as $70 million over the next five years by eliminating printing, mailing and financial middleman costs. series ee bonds-- sold at a 50% discount-- and series i bonds-- sold at face value-- pay a fair return without risk, with no state and local taxes, while offering significant federal tax benefits if used for college tuition or other qual
the swiss bank is accused of misleading fannie mae and freddie mac into buying mortgage debt that resulted in more than $900 million in losses. the lawsuit by the federal housing finance agency alleges that when u.b.s. sold more than $4.5 billion in residential mortgage-backed securities, the bank made misstatements as to the quality of the underwriting. the kind of u.s. savings bonds many of us give as gifts are being phased out. tonight's "money file" explains the changes and what...
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Jul 24, 2011
07/11
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CSPAN
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fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven months into the session with republicans in the majority. arling is a member of the majority. said. what mr. bauchus we would like a comprehensive bill. can we get a comprehensive bill? i do not think so. republicans in power in the house are much less certain. where are we? i will say i am somewhat embarrassed by this failure of memory, once he became a member of the majority. the gentleman from alabama blamed the obama administration. i feel like humphrey bogart, when it comes to fannie mae and freddie mac, republicans ca
fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven...
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Jul 29, 2011
07/11
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mac. -- fannie mae and freddie mac. the cfpb is tasked with issuing over 100 mortgage lending rules over the period of the next 18 months. it will be difficult to keep up with so many new rules in such a short time frame, so it is essential for the cfpb to develop an orderly process for its rulemaking initiatives no t only to -- not only to insure meaningful input from industry, small business and other stakeholders, but to develop well-conceived and clear rules that are neither duplicative, nor in conflict with states and other agencies. the cfpb must develop a process for providing timely, relevant guy dance to the industry and for the state regulators well prior to the implementation of the new rules. we believe there's a historic opportunity to set the tone for the future of the mortgage lending industry and finalizing the ability to repay rule and defining the qualified mortgage as a safe harbor characterized by traditional, well underwritten and properly documented loans. the cfpb can help to preserve the best pra
mac. -- fannie mae and freddie mac. the cfpb is tasked with issuing over 100 mortgage lending rules over the period of the next 18 months. it will be difficult to keep up with so many new rules in such a short time frame, so it is essential for the cfpb to develop an orderly process for its rulemaking initiatives no t only to -- not only to insure meaningful input from industry, small business and other stakeholders, but to develop well-conceived and clear rules that are neither duplicative,...
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Jul 23, 2011
07/11
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mac and fannie mae. hi am curious to read and find out what happened. there are some things i want to go back and read. there was recently a controversy about huck finn and a professor who took the n word out of the text and this sparked a controversy about american history in the context of my own book, politically correct speech codes and how inappropriate it was given the fact mark twain and -- samuel clemens wrote it with the power of that word intended. i wanted to take a look at what the sanitized text looked like. i picked up that book and it is sitting on my desk. and then there are two books. i am trying to remember their names. and opportunity to help out authors i am reading. lawrence block is a mystery writer. i think it is called a drop of the hard stuff. it is a mystery novel. lawrence block is to me a terrific mystery writer. that is of the top of the my list. if i wasn't here i would read lawrence block. he is terrific. and george pellicano writes about mysteries in washington d.c.. has a
mac and fannie mae. hi am curious to read and find out what happened. there are some things i want to go back and read. there was recently a controversy about huck finn and a professor who took the n word out of the text and this sparked a controversy about american history in the context of my own book, politically correct speech codes and how inappropriate it was given the fact mark twain and -- samuel clemens wrote it with the power of that word intended. i wanted to take a look at what the...